India - Income Tax Act 2010 - Saarc

1.829 CH. XIX-A - SETTLEMENT OF CASES S. 245BA(c) “Chairman” means the Chairman of the Settlement Commission;(d) “income-tax authority” means an income-tax authority specified insection 116;(e) “Member” means a Member of the Settlement Commission, andincludes the Chairman and a Vice-Chairman;(f) “Settlement Commission” means the Income-tax SettlementCommission constituted under section 245B;(g) “Vice-Chairman” means a Vice-Chairman of the Settlement Commission57 [and includes a Member who is senior amongst the Members ofa Bench].]Income-tax Settlement Commission.245B. (1) The Central Government shall constitute a Commission to be calledthe Income-tax Settlement Commission 58 [* * *] for the settlement of casesunder this Chapter.(2) The Settlement Commission shall consist of a Chairman 59 [and as many Vice-Chairmen and other members as the Central Government thinks fit] and shallfunction within the Department of the Central Government dealing with directtaxes.(2A) 60 [* * *](3) The Chairman 61 [, Vice-Chairman] and other members of the SettlementCommission shall be appointed by the Central Government from amongstpersons of integrity and outstanding ability, having special knowledge of, and,experience in, problems relating to direct taxes and business accounts:Provided that, where a member of the Board is appointed as the Chairman62[, Vice-Chairman] or as a member of the Settlement Commission, he shall ceaseto be a member of the Board.63[* * *]64[Jurisdiction and powers of Settlement Commission.245BA. (1) Subject to the other provisions of this Chapter, the jurisdiction,powers and authority of the Settlement Commission may be exercisedby Benches thereof.(2) Subject to the other provisions of this section, a Bench shall be presided overby the Chairman or a Vice-Chairman and shall consist of two other Members.(3) The Bench for which the Chairman is the Presiding Officer shall be theprincipal Bench and the other Benches shall be known as additional Benches.57. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007.58. Words ‘(hereafter in this Chapter referred to as “the Settlement Commission”)’ omitted bythe Finance Act, 1987, w.e.f. 1-6-1987.59. Substituted for “and two other members” by the Taxation Laws (Amendment & MiscellaneousProvisions) Act, 1986, w.e.f. 10-9-1986.60. Omitted, ibid. Earlier, sub-section (2A) was inserted by the Finance Act, 1982, w.e.f.1-4-1982.61. Inserted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f.10-9-1986.62. Inserted, ibid.63. Second proviso omitted, ibid.64. Inserted by the Finance Act, 1987, w.e.f. 1-6-1987.